Daily Pivots: (S1) 0.9610; (P) 0.9636; (R1) 0.9670; More
Intraday bias in USD/CHF is back on the upside with strong break of 4 hour 55 EMA (now at 0.9644). Further rally should be seen to 0.9868 resistance first. Break there will argue that larger up trend is ready to resume through 1.0063. Overall, the corrective pattern from 1.0063 high could still extend. Below 0.9554 minor support will turn bias back to the downside for 0.9478 and below.
In the bigger picture, current development suggests that up trend from 0.8756 (2021 low) is still in progress. Sustained break of 1.0063 will target 100% projection of 0.9149 to 1.0063 from 0.9369 at 1.0283, and then 1.0342 (2016 high). For now, this will remain the favored case as long as 0.9369 support holds, even in case of deep pull back.
